I started using stop loss several years ago and have saved myself a fortune. Even if it kicks in with a long position it allows me to watch it make a natural "correction" and buy them back lower. Catching those 3% bumps really adds up over time. You just have to believe in why you bought it in the first place and don't hesitate to jump back in while its down. When I take a "flinger" the stop loss keep me from getting burned.